On Thursday, the Nevada Gaming Commission approved eight new amendments regarding cashless gaming systems. The amendments were made to existing regulations. Supporters of cashless options feel that this change is the first step needed to revolutionize the way casinos complete financial transactions.
The amendments to the gaming regulations are effective immediately. Because of the changes, Nevada casinos could see huge changes ahead, with options installed to allow players to move money from a debit or prepaid debit cards to games like blackjack and slots at a faster rate.
When approving the changes, the commissioners stated they hoped that this is a first step towards transforming how currency is used in casinos to electronic payment systems.
The commission has been considering cashless gaming for some time, but with the outbreak of Covid-19, it has sped up the process. Companies want to replace cash, which can carry germs for an extended period of time, with options that are much cleaner.
Several companies are ready with cashless technology for the gaming industry, including NRT Technology Corp., Scientific Games, Everi Holdings, and IGT. Such systems were approved during the meeting as well.
With any change in gambling regulation, there is opposition. When it comes to cashless systems, those opposed are concerned that the accessibility factor would make it too easy for compulsive gamblers to play.
Commissioners agreed to let cashless payment methods move forward, but also stated they expect revisions to be made to cover self-exclusions and self-imposed limits, such as with the frequency of transactions as well as the amount.
The change in regulations comes at a time when the American Gaming Association released a report regarding cashless systems. The group has been focusing on advancing the industry with digital payments for quite some time. According to the AGA, the option will help the industry move into the 21st century and will help to bolster regulatory and responsible gaming measures.
The AGA president and CEO Bill Miller pointed out that with the pandemic still an issue, it is now more important than ever to advance such efforts to ensure customers have a comfortable payment choice when visiting.